An Unstoppable Legend: Ben Caballero Remains America's Top-Performing Real Estate Agent
Ben Caballero is an improbable and incomparable real estate legend. How can an individual real estate agent based in Texas sell an average of more than 19 homes daily, every day of the week, including Saturdays and Sundays? Again, 19 homes a day, times 365 days last year, would be 6,935 home sales. Ben sold 7,012 homes in 2023. He is the sole listing agent on every sale, verified by every multiple listing service he works with in Texas. He does not work with any other agent or team at HomesUSA.com, the brokerage where he also is CEO and founder. Ben is unique because he does not work with home buyers at all. He is a sell-side-only agent. His sole clients are 60+ home builders, mainly in Texas's four largest new home markets: Houston, Dallas-Ft. Worth, Austin, and San Antonio. Numbers in the stratosphere Ben is a selling machine. He has been the No. 1 ranked agent in the US since 2013, according to RealTrends (now part of HousingWire). He tops the annual ranking for the total number of transactions and total sales volume every year. Last year, Ben's individual sold homes totaled at an unprecedented $3.638 billion. It's hard to get our brains around the magnitude of Ben's accomplishments, so let's try. If you stacked Ben's newest record volume in one-dollar bills, it would be over 246 miles high, or more than 44 times the height of Mount Everest. If you laid $3.638 billion in one-dollar bills end-to-end, it would go around the earth more than 14 times. Spending $1 every second would take you 115 years to reach $3.638 billion. He is the: First individual agent to reach $1 billion or more in annual sales (2015). First individual agent to reach $2 billion or more in annual sales (2018). First individual agent to reach $3 billion or more in annual sales (2022). First individual agent to exceed $3.5 billion or more in annual sales (2023). From 2004 to 2023, Ben's home sales exceeded 60,000, totaling more than $20 billion. A stack of $20 billion in one-dollar bills would be over 4,000 times taller than the tallest building in the US (One World Trade Center). Unmatched recognition Ben is a three-time Guinness World Records title holder for "Most annual home sale transactions through MLS by an individual sell-side real estate agent—current." In 2016, he sold 3,556 verified home sales, broke his own record in 2018 with 5,801, and broke his record again in 2020 with 6,438. Last year, by breaking the 7,000 home sales barrier, he set a new bar for the industry. Recently, Ben invented SpecDeck, a cutting-edge technology that empowers builders to replace their in-house MLS listing process, a HousingWire 2024 Tech100 Real Estate award winner. Ben was an Inman Innovator Awards winner in 2013, named the "Most Innovative Real Estate Agent." He was a finalist again in 2016 and 2018 and an Inman industry influencer in 2017. Swanepoel (now T3 Sixty) named him a top trendsetter in 2017. Remarkably, Ben received the 2014 "Pinnacle Award" for Real Estate Entrepreneurship, presented by Gary Keller and Keller Williams Realty, even though he never work for KW. Ben has a unique business model Most agents use a retail model – working directly with buyers and sellers. Ben has a wholesale model, working directly with the product's creators – builders. While Ben does not do many of the things that agents typically do, those agents also don't do many of the things Ben does. Plus, the new home sales process is much different—and longer—than a typical existing home listing. For example, every one of Ben's listings leverages his advanced proprietary listing and marketing tech platform, which has 52 built-in listing validations. His typical MLS listing is updated more than a dozen times throughout its listing cycle, and he provides the builder with nearly two dozen services to support each one. The Hustle did an exceptional job describing Ben's journey, what he does, and how he does it. Ben's Podcast Series – Builder Talk and Real Estate Agent Series – also describes his business and shares his secrets to success. Ben is an enigma What may be the most surprising thing about Ben is that the number one Realtor in the world is 83 years old, works out regularly with a professional trainer, and remains one of the hardest-working agents in the business. Incredible milestones mark his career: his father was a first-generation Cuban American from Tampa, Florida, and both his mom and dad became real estate brokers. He is a U.S. Air Force veteran. He became a Realtor when he was 21 and has been one for over 60 years. Ben was also a builder for 18 years. One of the most prized awards in his career was a "Builder's Choice Award" for Excellence in Design & Planning from Builder magazine. He is a serial innovator: he created The Apartment Finders in Dallas in the early 1960s and was among the first – if not the first agent – in the late 1980s to offer a "guarantee" to buy your home if you didn't sell your old house by the time you closed on your new home purchase; invented the first online platform to manage home sales and marketing for builders; and most recently created SpecDeck, the first builder tech platform that uses strategic automation to create a more streamlined and simpler way for builders to have their listings fully managed in the MLS. Finally, few industry thought leaders have the same level of experience as Ben Caballero. He can often spot future outcomes well before most industry experts. He called out iBuyers and challenged the success of the iBuying model (HousingWire – May 2, 2019) at a time when some experts said it would soon account for as many as 1 in 4 home sales. He also explained in detail why the U.S. housing inventory shortfall would last for years, well before the industry's leading economists (Inman – May 12, 2021) jumped on the bandwagon. While Ben often sees the future of real estate before others, he remains surprised whenever he breaks his own sales production numbers. So, the one final question is this: Can Ben do it again? Time will tell. To view the original article, visit the WAV Group blog.

Trust Your Gut: 13 Red Flags to Avoid Hiring Bad Contractors
Helping a client undergo renovations for their home project is exciting, but it's also a huge undertaking. The contractor you choose can make or break the renovation – not to mention affect your client relationship and chance at future referrals. Hire the wrong person for the job, and your go to market date could be pushed out much longer than you ever planned. In addition, the budget might double or triple, and you could still end up having to hire a second contractor to finish the project or fix the one that was botched. That's why you need to know when to walk—or better yet, run—from a contractor who is about to turn your listing into a money pit or burn a hole in your client's wallet. We spoke with Michael Alladawi, CEO of Revive, a national company that helps real estate agents and homeowners maximize the value of their homes through guided renovations. He shared his insights on the 13 red flags that should have you running for the hills if you ever come across them. 1. The contractor wants a large down payment No one expects contractors to work for free. On the other hand, your "spidey sense" should start tingling if they ask for a large down payment before they start doing any work. "It is typical to collect an advance toward securing large-ticket items such as cabinetry and countertops, but in certain states, it is illegal for a contractor to exceed a certain down payment cap," explains Michael. With or without those regulations, your client should expect to fork over a down payment of no more than 10% of the total project cost. 2. The contract is vague The contract presented by your contractor should be detailed enough that you need to put your reading glasses on to view it. "Be wary of a contract that is devoid of details—or the language is vague at best—regarding the scope of work for the project, responsibilities, payment schedules, and start and stop times," says Alladawi. In fact, he says the scope of work and every single detail must be included in your written agreements. Why is this so important? You don't want to make assumptions regarding what you thought you signed up for. And every time you say, "I thought you were going to…" Michael explains this is what's referred to as scope creep, a "change order," which will cost additional money. For example, you might assume that paint would be included in the cost of painting the home or debris removal is included in a demo, but if it's not in the contract, your client will be paying extra. 3. The contractor had bad or zero reviews You can give the contractor the benefit of the doubt, but you still need to see if there's any dirt on them. These days, everything is online, and if you see bad reviews, take them seriously. The adage that you can't please everyone is true—but multiple bad reviews are usually a smoke signal. And where there's smoke, there's fire. "If you don't see any reviews at all about a company, chances are they have dissolved previous companies and reestablished under a new name," Alladawi explains. When contractors can't clean up their brand or reviews, they often start over. 4. The contractor doesn't have references In addition to reviews, contractors should also have references. Also, if this person has great reviews for painting but they're offering to install a new kitchen, you need examples of the latter. Renovations are significant investments of both time and energy for homeowners. Alladawi explains, "The best way to understand a contractor's work is to review photos, reviews, and references from their work." Contractors should be eager to share the contact information of happy customers who can answer questions about their performance. 5. The bid or estimate is extremely low Usually, consumers are concerned about prices being higher than necessary. However, Alladawi also warns about a low-ball bid. "Contractors know that homeowners will be fixed on costs and the bottom line, and unethical contractors will leave out some scope of work details just to obtain the job," he explains. "You need to review bids against your scope of work to ensure it includes everything you expect." 6. The contractor doesn't have proof of insurance Don't just ask a potential contractor for insurance—ask to see a copy of it. You should also be sure it includes workman's compensation and general liability. "If the project is large in scope, you may want to also check and see that they are bonded," Alladawi recommends. 7. The contractor is a poor communicator We're not saying your contractor needs to have a BA in communications. However, if they fail to return phone calls or address your concerns, Alladawi says this is a preview of what you'll get if you hire them—and he says they may end up abandoning the project. Written communication skills are also important. "When a contractor is hesitant to provide information in writing or engage in proper digital communication, this is a definite red flag that he or she doesn't want a paper trail of evidence or isn't legally licensed to do the work requested," says Alladawi, "A running paper trail is a normal expectation when you're dealing with a contractor." 8. The contractor doesn't mention permits or suggests the homeowner obtain them "Each municipality has different ordinance requirements for various home remodeling projects, including outdoor spaces," Alladawi warns. "Many projects—including retaining walls, driveways, fireplaces, and outdoor kitchens—need to be permitted and engineered and require a substantial amount of expertise to execute properly." And he says your potential contractor needs to address this as it can affect timelines and costs to pull permits. Even worse is a contractor who asks you to pull the permits. Alladawi says this usually means you're dealing with an unlicensed contractor or someone whose license has been revoked. "Never obtain the permit as an agent or homeowner because whoever obtains and signs for the permit is responsible for everything, including fines and fees when things go wrong," he explains. "You want the contractor to carry the burden of doing the work." 9. The contractor doesn't address materials or lien waivers If the contractor is executing draws, and the project is large, Alladawi says you may want to ask about lien waivers. "This is an extra step that will ensure that nobody, including a contractor's supplier, can place a lien on the property," he says. "For example, if a contractor doesn't pay their dealer, the dealer can issue a lien directly on the homeowner, which must be satisfied to receive clean title or deed" if there is ever a sale. In other words, you can't sell your listing until this debt is paid. 10. You're unable to verify the contractor's license, or the names do not match There's a reason you should always verify the contractor's license. Alladawi says this is how you can find out if the contractor is unlicensed and using someone else's license. It's possible this individual's license has been revoked, and they got someone else to apply for one. "It may even be a corporation, but the principals do not match the name of the contractor," he says. 11. The contractor asks for cash payments If the contractor asks if you can pay in cash, it's quite possible this individual is trying to avoid paying taxes on the business or for employees. Alladawi says this is a sign that you're dealing with a dishonest person. But there's yet another reason why you shouldn't pay in cash. "It's important to have proof of payment using a canceled check, receipts, and lien releases upon payments made to the contractor in the event he or she claims they weren't paid," Alladawi says. 12. The contractor is under the influence What people do on their time is their business—but what they do in your home is your business. It might go without saying, but "when it comes to deciding on who you want to work with, a major waving red flag that says, 'don't hire me,' is a contractor who shows up to the job site, and you suspect they are under the influence," Alladawi warns. 13. Bad gut feeling Finally, if you get a bad feeling about a contractor, it's worth considering other options. Your intuition can be a valuable tool in making a decision. Revive Real Estate partners with real estate professionals to provide the funding, guidance, and contractors needed to get strategic pre-sale renovations done fast and for maximum value. Discover more at www.revive.realestate.

For the Class of 2024, Austin Ranks as the Top Rental Market for College Graduates
A Combination of High Income-to-Rent Ratio, a Graduate-friendly Job Market and Appealing Lifestyle Make These Metros the Top Markets for Recent College Graduates SANTA CLARA, Calif., May 7, 2024 -- For graduates evaluating where they'll make their mark on the real world after college, Austin, Texas may offer them the best option for living, working and camaraderie amongst their peers. In a new report, Realtor.com® uncovered The Top Markets for Recent College Graduates and Austin ranked #1, followed by Bloomington, Minn. and Pittsburgh, Pa. to round out the top three. "Graduating college is a major accomplishment, and, as commencement speakers often point out, also the beginning of a new chapter. Graduates have a lot to consider when deciding where to start that next phase. Considerations like finding an affordable place to live, positive job prospects and a nice lifestyle, are all important and it can be tricky to balance each of these factors," said Danielle Hale, Chief Economist of Realtor.com®. "Renting is more affordable than buying in the short run and can be a great option, especially when life right after college is usually marked by navigation of uncertainty and personal and professional growth." Top Rental Markets for Recent College Graduates The Realtor.com® analysis of Top Markets for Recent College Graduates uncovers the places in the U.S. where the class of 2024 can find a healthy mix of affordable renting options, job opportunities, and appealing lifestyle based on the following metrics: Affordable Rent Realtor.com® calculated the ratio between rent and income for households between the ages of 25-34, which represents how much of their typical gross income is allocated to housing expenses. A low ratio is better as it suggests the housing costs take up a smaller portion of the monthly paycheck. Among the top 10 markets, the rent-to-income ratio spans from 19.9% to 26.7%. Bloomington, located within the Minneapolis-St. Paul-Bloomington metro area, emerges as the most affordable top-ranked rental market among the top markets with a ratio of 19.9%. Plenty of Choices For recent college graduates starting a fresh new post-grad life, finding an apartment to rent can be tricky, if there aren't many options available it becomes even harder. Realtor.com® calculated a proxy for rental availability by measuring vacancy rates. Higher vacancy rates means a market could offer more options to choose from while potentially tapping into bargaining and negotiating with landlords because of the high supply. Out of the top markets, Austin within the Austin-Round Rock metro area (9.0%), boasts the highest rental vacancy rate. College-Graduate Friendly Jobs When moving to a new city after college, graduates are looking for opportunities to kick start their career. In the Realtor.com® list of Top Markets for Recent College Graduates, people may encounter less difficulty entering the workforce and securing positions that match their skills and qualifications. To define these roles, Realtor.com used data from the Bureau of Labor Statistics, categorizing occupations that require a bachelor's degree but no prior experience as recent college-graduate friendly. Austin, Texas, home to many tech-fueled company offices, leads with 29.6% of occupations in this category in the surrounding metro, followed by Raleigh, N.C. with 28.8%, and Bloomington, Minn. with 26.7%. Job Stability How well one can kick start their career is an important aspect that many college graduates consider when moving to a new city. Another aspect is how well they will be able to grow their career, and whether the area boasts a stable job market. A lower forecasted unemployment rate suggests that recent college graduates could encounter less competition when seeking employment, and better job security, which will help to launch their careers and achieve their professional goals. In the Realtor.com® report, Bloomington, Minn. is forecasted to have the lowest unemployment rate in 2024 (3.1%) among the top 50 metros, followed by Austin, Texas with an unemployment rate of 3.3% in the surrounding metro. Opportunities for Job Growth To measure job opportunities, Realtor.com® used the Indeed Job Posting Index, which details the change in job openings compared to pre-pandemic baselines. A higher index for a market indicates a healthy number of opportunities; recent graduates can use the index to identify whether a place can offer positive job growth in the future. Within the top 10 markets, the index ranged between 114 and 166. Specifically, Scottsdale, Ariz. (an average index score of 166) experienced the highest increase of job openings when compared to the pre-pandemic period. Surrounded by Peers When moving to a new city, college graduates looking to make new friends and encounter people in similar life stages may turn to places with a good amount of peers who can provide a supportive environment, networking opportunities, and access to entry-level jobs. This enhances the transition from college to life after university. Among the top 10 markets, the share of recent college graduates ranged from 2.5% to 4.4%. Notably, Pittsburgh, Pa. (4.4%), has the highest share, followed by Atlanta, Ga. (4.2%) and Richmond, Va. (3.7%). Short Commutes For college graduates who may be accustomed to walking to campus, the transition to work life after college may come with longer commutes, however it doesn't always mean sitting in hours of traffic. The top markets on the Realtor.com® list have an average expected commute time of 25 minutes in 2024, which is shorter than the city/town average of 30 minutes. Notably, Overland Park, Kan., boasts the shortest average commute time of 22 minutes. Bloomington, Minn. and Scottsdale, Ariz. were not far behind; both have an average commute time of 23 min. Appealing Lifestyle Classes are out for good, so why not enjoy the fruits of college labor? Realtor.com® measured how lively a town is using point of interest data provided by Yelp to indicate an abundance of entertainment, shopping, and lifestyle businesses. These businesses encompass a variety of venues such as restaurants, cafes, bars, shops, theaters, comedy clubs, and art studios. Among the top 10 markets, the number of businesses per 1000 households ranged between 17.1 and 39.5. Specifically, Beaverton, Ore., claimed the highest position within the top 10 list, with a ratio of 39.5. Atlanta, Ga., with a ratio of 27.5, and Scottsdale, Ariz., with a ratio of 25.2 were closely behind. For more information on the Realtor.com® Report on Top Rental Market for Recent College Grads please visit realtor.com/research. Data Source and Methodology For the purpose of the research, we ranked 313 cities and towns with a population of more than 75,000 that are located within the 50 largest metro areas. Rent-to-income ratio: Rental data are studio, 1-bedroom, or 2-bedroom units advertised as for-rent on Realtor.com® between April 2023 and March 2024 in the top 50 metros. Rental units include apartments as well as private rentals (condos, townhomes, single-family homes). Household income was sourced from 2024 Claritas estimates based on Census Bureau data. Rental vacancy rates were the 2023 average vacancy rates calculated from Census's Housing Vacancies and Homeownership Survey for each city/place's surrounding metro area. Recent college graduates-friendly occupations were those defined by the Bureau of Labor Statistics, requiring a bachelor's degree but no prior experience. The share of these occupations were then calculated using 2022 ACS 1-Year individual data for each city/place's surrounding metro area. The stated forecasted unemployment rates are Moody's Analytics projections of U.S. Bureau of Labor Statistics Local Area Unemployment Statistics for each city/place's surrounding metro area. The metro level online job posting index was sourced from Indeed's Hiring Lab and we took the average index between April 2023 and March 2024 The share of recent college graduates was estimated using 2022 ACS 1-Year individual data. Recent college graduates were individuals who were between 25 and 29 years old, earned a bachelor degree and were not in school. The average commute time data was sourced from 2024 Claritas estimates based on Census Bureau data. Counts of culture and lifestyle businesses were aggregated from Yelp's November 2023 point of interest data and are aggregated at the city/place level. The counts were then normalized using 2023 Claritas city/place level household data. About Realtor.com® Realtor.com® is an open real estate marketplace built for everyone. Realtor.com® pioneered the world of digital real estate more than 25 years ago. Today, through its website and mobile apps, Realtor.com® is a trusted guide for consumers, empowering more people to find their way home by breaking down barriers, helping them make the right connections, and creating confidence through expert insights and guidance. For professionals, Realtor.com® is a trusted partner for business growth, offering consumer connections and branding solutions that help them succeed in today's on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. For more information, visit Realtor.com.